Japan's Prime Minister, Fumio Kishida, said that the government will assess the economic consequences of any further yen depreciation, which might affect corporate profits.

In September, Japan's wholesale inflation reached a 13-year high as rising global commodity prices and a weak yen drove up input costs, putting even more strain on businesses already dealing with supply constraints and clouding the economy's outlook. 

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"If the yen weakens further, it would increase exports, but it will also raise costs for businesses due to greater import costs," Kishida told parliament.

When asked how the government would respond to excessive yen depreciation, he stated, "We will closely monitor the impact of currency movements on companies."

He stated that the government will assist small and midsize businesses in coping with rising costs by providing financial support and encouraging them to improve their productivity.

A weakened yen has historically been welcomed by Japanese policymakers because it makes the export-dependent economy's goods more competitive abroad.

However, given Japan's substantial reliance on imports for fuel, raw materials, and food, domestic industries are equally exposed to higher prices from a weak yen.